Vault Review

Vault

ICO Concept

Vault is a cryptocurrency wallet, but they are also more. The company describes itself as a multifunctional verification tool by which to store data and funds, participate in ICOs and generate income from your personal information. The Vault ecosystem is comprised of a Wallet, Verifier and a Fund. Vault envisions its platform as a place where novice and sophisticated cryptocurrency investors alike can store, exchange and invest in digital currencies including ICO tokens.

The token sale is not expected to unfold in 2018, but Vault boasts a referral program that is open to the public. By registering on the Vault platform and sharing a link, users can earn 100 Vault (VAU) tokens per recommendation, according to a blog post.

How Does It Work?

Vault on its website explains that its technology does not store user data on the blockchain. Instead, that information is kept on the user’s personal device. To join, it all begins with registering on Vault. Once you are approved for the know-your-customer verificaton standards, you can access ICO projects with the click of a button. From there, store all of your cryptocurrency funds that are ERC20 compliant on Vault’s digital wallet where you can hold, transfer or exchange them for other tokens.

Vault is also targeting a data storage feature where users can “store, transmit and sell data with vault-in-clouds,” according to the website. A treasure fund is also on the roadmap and it will be comprised of the funds of who the company describes as ‘world class investors” to back select ICO projects.

Features

Wallet - Stores ERC20-based tokens. At year-end 2018, Vault plans to add support for tokens outside of the ERC20 universe; 2.) Verifyer - This handy tool gives users on the platform the abilitiy to complete the know-your-customer protocol once and have those verifications applied to other projects. This is possible through the creation fo a unique ID that is applicable to ICO projects on the Vault platform; 3.) The Fund -- Vault also refers to this as the Treasury. It’s DAO accelerator for ICO projects that will be selected for an investment with conditions.

The ERC-20-based VAU token can be used as payment for services on the Vault platform in addition to recommendations and distributions.

So far, Vault has signed on two ICO projects, including Hiway.io and imusify.com. This means there will be projects supported on the platform for users to participate in. The Vault platform remains under development as the team creates “new nodes of interaction between companies and verified users.” The Vault team is also readying a road show in which it will meet with additional ICO projects at CIS and across Asia. Vault can be reached at [email protected]

Who Does It Serve?

Vault is targeting blockchain projects that are pursuing ICOs as partners as well as big investors to back select projects. In addition, Vault is designed for both new and experienced cryptocurrency investors who have an interest in purchasing and storing digital currencies including newly issued tokens.

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